Futures Markets
EIA: Crude inventories down, more gasoline in storage
Crude oil prices rose initially but then fell on Thursday after the US Energy Information Administration released its weekly inventories report. The new data showed that crude oil stockpiles were down by 2 million barrels in the week ending May 25. A gain of 700,000 barrels in storage had been expected. However, […]
Crude prices mixed; gasoline down 5.6 percent this week
Crude oil prices were mixed on Wednesday on news from various parts of the world. Iran again said that it will not suspend its uranium enrichment activities ahead of a meeting with European Union representatives. There was another attack on an oil pipeline in Nigeria, which resulted in the shutdown of another 150,000 […]
WTI drops $2 per barrel in midday trade
Crude oil prices were much lower on Tuesday after a strike in Nigeria ended and the nation’s new president said that he will address the violence by militants that has stopped up to a quarter of the nations oil output. His comments sent Brent crude for July delivery down by $1.12 to $68.59 per […]
At-the-pump gasoline prices slightly lower in US
Crude oil prices were mixed on Friday. On one hand, several refineries in the Unites States announced that they would be restarting, adding refining capacity that will increase gasoline supplies. Despite this good news, however, continuing tensions over Iran’s nuclear ambitions and strikes and other problems in Nigeria kept traders worried. Around […]
Brent crude prices rise; WTI declines in New York
Crude oil prices were higher in late afternoon trade on the Intercontinental Exchange in London on Thursday as geopolitical concerns continued, including worries over the pace of Iran’s uranium enrichment program. Brent crude July contracts added 83 cents to $71.43 per barrel after going as high as $71.80 per barrel earlier in the day.
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Crude oil, oil products prices lower on session
Oil prices fell on Tuesday, with Brent crude July contracts falling back below $70 per barrel as it dropped 57 cents in trade on the Intercontinental Exchange in London to $69.92 per barrel. Meanwhile, in early afternoon trade on the New York Mercantile Exchange, June contracts for West Texas Intermediate crude were $1.29 lower […]
WTI adds $1 per barrel on Nymex
Crude oil prices were higher on Monday. June contracts for West Texas Intermediate crude had added $1.06 to $66 per barrel in early afternoon trade on the New York Mercantile Exchange. The contracts had been trading in a range between $64.50 and $66.20 during the morning session.
June Nymex gasoline was even at $2.41 […]
Refiner margins up to more than $30 per barrel
Crude oil prices were mixed on Friday after Brent crude dropped back below the $70 per barrel level, an eight-month high it reached on Thursday. In late afternoon trade on the Intercontinental Exchange in London on Friday, July contracts for Brent was 83 cents lower to $69.45 per barrel. That left it still […]
Natural gas inventories rise, but so do prices
The US Energy Information Administration reported Thursday that US natural gas inventories grew by 35 billion cubic feet in the week ending May 11. This brought the amount of natural gas in storage to 1.84 trillion cubic feet in the lower 48 states, almost 21 percent above the five-year average. Still, it remains […]
Crude oil prices lower on US inventories numbers
Crude oil prices were lower on Wednesday, with West Texas Intermediate crude June contracts down $1.06 in early afternoon trade on the New York Mercantile Exchange to $62.11 per barrel. Meanwhile, June delivery Brent crude was 47 cents lower on the Intercontinental Exchange in London to $67.64 per barrel. The Brent June contract […]
New Nigeria closure sends crude prices higher
Crude oil prices were higher on Tuesday after Nigerians occupied a Royal Dutch Shell (LSE: RDSA, RDSB; NYSE: RDS.A, RDS.B) pipeline hub, cutting 170,000 barrels per day of production. Around one-fifth of Nigeria’s oil output is now shut down due to continuing unrest there. In addition, the Organization of Petroleum Exporting Countries issued […]
WTI slightly lower at mid-afternoon in New York
Oil prices were up early on Monday after the Organization of Petroleum Exporting Countries said it will leave current production quotas in place at least through June. The decision came even though the International Energy Agency said on Friday that the lower quotas could mean that supply will not keep up with demand through […]
IEA questions OPEC’s statements on production
Oil prices were up slightly on Friday after the International Energy Agency issued a report that questioned the market’s ability to keep up with demand for oil products. In the report, the IEA said that the Organization of Petroleum Exporting Countries must increase output soon and criticized comments from OPEC officials that they do […]
Natural gas stockpiles up in new data
The price of June contracts for natural gas on the New York Mercantile Exchange dropped 2 cents to $7.86 per million British thermal units in early afternoon trade on Thursday. The decline came after new data showing that US natural gas storage was up by 96 billion cubic feet in the week ending May […]
Oil, gasoline futures lower on inventories report
Crude oil prices were lower on Wednesday after the first increase in US gasoline stockpiles in 13 weeks was reported. Inventories were still below last year’s levels, however. The US Energy Information Administration reported that gasoline stockpiles rose by 400,000 barrels in the week ending May 4, to 193.5 million barrels, a bit […]
More trouble in Nigeria sends crude prices higher
Oil prices were higher on Tuesday after reports that rebels in Nigeria have carried out another oil pipeline attack there. A report from Reuters said that three pipelines were bombed, forcing Italian oil company Eni (ISE: ENI; NSYE: E) to bring to a stop 150,000 barrels a day in production from its Brass terminal.
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June WTI down nearly $1 at early afternoon
Prices for West Texas Intermediate crude oil for June delivery were down 93 cents to $61 per barrel in early afternoon trade on the New York Mercantile Exchange on Monday. Nymex June gasoline was also lower, down 4 cents to $2.17 per gallon, while Nymex June heating oil had also dropped 4 cents, to […]
Bodman warns of record US gasoline prices to come
Crude oil prices were down on the session and over the week despite worries about supply during the summer driving season in the United States. US Energy Secretary Sam Bodman warned that gasoline prices are likely to reach record territory over the summer as gasoline stockpiles have dropped significantly and consistently over the past […]
Crude prices down despite new Nigerian violence
Crude oil prices rose early on Thursday on the news that there had been more kidnappings in Nigeria, in three separate attacks on oil facilities there. Up to twenty workers were taken initially, but prices began to fall again after eight of the twenty were released without having suffered any harm. The new […]
Crude oil prices down over $1 per barrel
Crude oil prices were lower on Wednesday after US inventories figures from the Energy Information Agency and even though US Energy Secretary Sam Bodman said he fears that gasoline prices would reach new record highs this summer. Crude oil stockpiles grew by 1.1 million barrels in the week ending April 27, while gasoline inventories […]